$2.04 Billion in Sales Expected for Ardagh Group SA (ARD) This Quarter

Wall Street brokerages expect Ardagh Group SA (NYSE:ARD) to report sales of $2.04 billion for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Ardagh Group’s earnings, with the lowest sales estimate coming in at $2.00 billion and the highest estimate coming in at $2.09 billion. The firm is expected to issue its next earnings results on Thursday, January 25th.

According to Zacks, analysts expect that Ardagh Group will report full-year sales of $2.04 billion for the current fiscal year, with estimates ranging from $8.78 billion to $8.87 billion. For the next year, analysts forecast that the business will post sales of $8.87 billion per share, with estimates ranging from $8.75 billion to $8.99 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Ardagh Group.

Ardagh Group (NYSE:ARD) last posted its earnings results on Thursday, October 26th. The company reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.07. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $2 billion. During the same period in the previous year, the company posted $0.52 EPS. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year.

ARD has been the topic of a number of research analyst reports. Zacks Investment Research lowered shares of Ardagh Group from a “buy” rating to a “hold” rating in a report on Thursday, September 21st. Royal Bank of Canada set a $25.00 price objective on shares of Ardagh Group and gave the stock a “buy” rating in a report on Monday, October 30th. Finally, BMO Capital Markets raised shares of Ardagh Group from a “market perform” rating to an “outperform” rating and set a $26.00 price objective on the stock in a report on Monday, October 30th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $24.35.

A number of large investors have recently modified their holdings of ARD. Cubist Systematic Strategies LLC lifted its position in Ardagh Group by 3,749.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 9,584 shares of the company’s stock valued at $217,000 after purchasing an additional 9,335 shares during the period. Aperio Group LLC acquired a new position in Ardagh Group during the 3rd quarter valued at about $257,000. First Quadrant L P CA acquired a new position in Ardagh Group during the 3rd quarter valued at about $260,000. Wells Fargo & Company MN lifted its position in Ardagh Group by 1.1% during the 2nd quarter. Wells Fargo & Company MN now owns 11,740 shares of the company’s stock valued at $265,000 after purchasing an additional 126 shares during the period. Finally, Vanguard Group Inc. acquired a new position in Ardagh Group during the 2nd quarter valued at about $289,000. 87.38% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Ardagh Group (ARD) traded down $0.06 during trading hours on Friday, reaching $20.02. 23,327 shares of the company’s stock were exchanged, compared to its average volume of 80,131. Ardagh Group has a 12-month low of $19.55 and a 12-month high of $24.54.

COPYRIGHT VIOLATION WARNING: This news story was reported by Community Financial News and is the sole property of of Community Financial News. If you are accessing this news story on another domain, it was illegally stolen and republished in violation of international copyright laws. The legal version of this news story can be read at https://www.com-unik.info/2018/01/19/2-04-billion-in-sales-expected-for-ardagh-group-sa-ard-this-quarter.html.

About Ardagh Group

Ardagh Group SA, formerly Ardagh Finance Holdings SA, is a Luxembourg-based company engaged in the packing industry. The Company focuses on the design and manufacture of rigid packaging solutions mainly for food and beverage markets. Its activities are divided into two business segments: Metal packing, which supplies aluminum and steel beverage cans, two-piece aluminum, two-piece tinplate and three-piece tinplate food and specialty cans, as well as a range of can ends, among others, and Glass packing, which delivers glass containers, bottles and jars, among others.

Get a free copy of the Zacks research report on Ardagh Group (ARD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Ardagh Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ardagh Group and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit